12A:31-2.3 Application for loan guarantee
(a) Each application for a loan guarantee shall be accompanied by a non-refundable application fee of $300.00.
(b) Each application for a loan guarantee shall be accompanied by written evidence that the applicant has been denied a loan having similar terms as that sought from the Authority.
(c) Each application for a loan guarantee shall be accompanied by a business plan, if available, and financial projections, for three years or for the term of the loan, whichever is less, provided in a format as determined by the Authority.
(d) Each application for a loan guarantee shall be accompanied by the following items:
1. A representative list of the names and addresses of the suppliers of the applicant;
2. A representative list of the current and prior clients of the applicant for the past two years where applicable;
3. The resumes of the principals and key employees of the applicant business;
4. The financial and operating statements of the applicant for the past three years and current personal financial statements for the principals of the applicant.
5. Any proof of certification by a public entity which certifies that the business is beneficially owned by, and that the majority of the management are, minorities or women; and
6. Any other information that the Authority and/or the Executive Director may, in the exercise of their discretion, deem necessary.
Administrative Correction to (d)6: Beneficiary changed to beneficially. See: 22 N.J.R. 2330(a). Amended by R. 1991 d. 394, effective August 5, 1991. See: 23 N.J.R. 830(a), 23 N.J.R. 2314(a). In (c): added provision of financial projections to text; In (d), deleted 5, recodifying existing 6-7 as new 5-6. Added Executive Director provision to new (d)6. Amended by R. 1992 d. 81, effective February 18, 1992. See: 23 N.J.R. 2627(a), 24 N.J.R. 625(a). Revised (d)4. Amended by R. 2000 d. 268, effective July 3, 2000. See: 32 N.J.R. 1490(a), 32 N.J.R. 2444(a). In (c), substituted "if available, and" for "including" following "business plan". Amended by R. 2005 d. 273, effective August 15, 2005. See: 37 N.J.R. 1679(a), 37 N.J.R. 3044(a). In (a), substituted "$300.00" for "not less than $500.00".